A $10,000 investment is made partly in a GIC at 5% and partlly in a mutual fund that will earn 7.5%. If the same amount of interest is earned in both, how much was invested in each rate?

Hi there

If the same amount of interest is earned in both so we should create the equation according to that

0.05x=0.075 (10000-x)

Solve for x

0.05x=0.075*10000-0.075x

0.05x=750-0.075x

0.05x+0.075x=750

0.125x=750

X=750:0.125

X=6000 invested at 5%

10000-6000=4000 invested at 7.5%

Check your answer

0.05*6000=0.075*4000

300=300

Good luck!